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<div class="moz-cite-prefix">I'm really interested in how ASICs are
going to affect the bitcoin market, their efficiency compared to
GPUs are insane, and once they start shipping in high volume...<br>
<br>
Though I agree with those like Lynn, get yours early enough and
MAKE SURE YOU CASH OUT (aka: don't ride the bubble forever), you
can make some really good money.<br>
<br>
Be one of the stragglers and you got yourself a $x,xxx paperweight
(not sure if these ASICs are useful for anything else).<br>
<br>
<pre class="moz-signature" cols="72">William Roush</pre>
On 9/2/2013 4:53 PM, James Nylen wrote:<br>
</div>
<blockquote
cite="mid:CABVa4Njd4izff22iVzqJeL4_8uWkucsd2YvAS0K2EMqb5aU-Gw@mail.gmail.com"
type="cite">
<div dir="ltr">Lynn,
<div><br>
</div>
<div>Have you seen Buttcoin? <a moz-do-not-send="true"
href="http://buttcoin.org/what-are-buttcoins">http://buttcoin.org/what-are-buttcoins</a> | <a
moz-do-not-send="true"
href="http://buttcoin.org/why-should-i-invest-in-bitcoins">http://buttcoin.org/why-should-i-invest-in-bitcoins</a></div>
<div><br>
</div>
<div>Also, I would think that an increase in difficulty would in
general lead to an increase in price, which would serve to
keep mining reasonably profitable unless newer devices come
out that are much more efficient. Your thoughts?</div>
</div>
<div class="gmail_extra"><br>
<br>
<div class="gmail_quote">On Mon, Sep 2, 2013 at 1:26 PM, Lynn
Dixon <span dir="ltr"><<a moz-do-not-send="true"
href="mailto:boodaddy@gmail.com" target="_blank">boodaddy@gmail.com</a>></span>
wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0
.8ex;border-left:1px #ccc solid;padding-left:1ex">
<div dir="ltr">Mike,
<div>I am doing quite well with my mining operations.
After 2 days of opeating my ASIC, I have managed to
collect around 1 BTC which is selling for around $145
right now. Say what you what you will about "Bit-Con"
(Love these silly names by the way), but I don't know of
any way where I can generate $60 to $70 per day doing
absolutely zero labor. </div>
<div><br>
</div>
<div>John,</div>
<div>To answer your question about what happens once the
supply of bitcoins are "mined up". The algorith gets
increasingly difficult as we approach the end of the
supply. Likewise, the reward for each block decreases
making it even less rewarding. But, since each
transaction of bitcoins is recording into the blocks,
the miners will then have the option of charging a
transaction fee. The option is there now, but since the
reward for finding blocks is so profitable right now,
most miners and users are not including transaction
fees. You can read more about transaction fees here: <a
moz-do-not-send="true"
href="https://en.bitcoin.it/wiki/Transaction_fees"
target="_blank">https://en.bitcoin.it/wiki/Transaction_fees</a></div>
<div><br>
</div>
<div><br>
</div>
</div>
<div class="gmail_extra"><br>
<br>
<div class="gmail_quote">
<div>
<div class="h5">On Mon, Sep 2, 2013 at 9:13 AM, Mike
Robinson <span dir="ltr"><<a
moz-do-not-send="true"
href="mailto:miker@sundialservices.com"
target="_blank">miker@sundialservices.com</a>></span>
wrote:<br>
</div>
</div>
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.8ex;border-left:1px #ccc solid;padding-left:1ex">
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<div class="h5">
<div style="word-wrap:break-word">
<div>
<div>On Sep 2, 2013, at 7:00 AM, <a
moz-do-not-send="true"
href="mailto:chugalug-request@chugalug.org"
target="_blank">chugalug-request@chugalug.org</a>
wrote:</div>
<blockquote type="cite"><span
style="border-collapse:separate;font-family:Helvetica;font-style:normal;font-variant:normal;font-weight:normal;letter-spacing:normal;line-height:normal;text-align:-webkit-auto;text-indent:0px;text-transform:none;white-space:normal;word-spacing:0px;font-size:medium">Re:
ButterFly ASIC Single</span></blockquote>
</div>
<div><span
style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;font-weight:normal;line-height:normal;border-collapse:separate;text-transform:none;font-size:medium;white-space:normal;font-family:Helvetica;word-spacing:0px"><span
style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;font-weight:normal;line-height:normal;border-collapse:separate;text-transform:none;white-space:normal;font-family:Helvetica;word-spacing:0px">
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style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;font-weight:normal;line-height:normal;border-collapse:separate;text-transform:none;white-space:normal;font-family:Helvetica;word-spacing:0px">
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style="line-height:normal;text-indent:0px;border-collapse:separate;letter-spacing:normal;text-align:-webkit-auto;font-variant:normal;text-transform:none;white-space:normal;word-spacing:0px">
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<span
style="line-height:normal;text-indent:0px;border-collapse:separate;letter-spacing:normal;text-align:-webkit-auto;font-variant:normal;text-transform:none;white-space:normal;word-spacing:0px">
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style="word-wrap:break-word">
<br>
</div>
</span></div>
</span></div>
</span>In my library I have an excellent
book, "Supplying the Mining World."
which to me neatly sums-up how
"Bit-con" actually works. The people
who really made a fortune during the
California Gold Rush days were
hardware-store proprietors, like Leland
Stanford and Mark Crocker (who went on
to do quite well with the
transcontinental railroad), and
photographers. Nearly all of the
hopefuls never made a dime, but they all
bought shovels and sluice-pans in the
big city, and they all wanted to have
their pictures taken.</div>
</span><br>
As long as this device works as advertised
... it will accelerate the task of solving
this computationally-difficult yet-solvable
problem ... then it is in the eyes of the
law as legitimate a thing to sell as any one
of P. T. Barnum's tickets to see "the
amazing egress."</span></div>
<div><br>
</div>
</div>
<br>
</div>
</div>
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